New major oil discovery in the Barents Sea

Norwegian energy company, Statoil, has made a major oil discovery in the Havis prospect in the Barents Sea. This is reported to be the second high-impact discovery in nine months […]

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By Priyanka Shrestha

Norwegian energy company, Statoil, has made a major oil discovery in the Havis prospect in the Barents Sea.

This is reported to be the second high-impact discovery in nine months following its earlier Skrugard find.

According to Statoil, the Havis prospect may hold recoverable oil equivalent of up to 200 to 300 million barrels. This including the previous discovery brings the total volumes to as much as 600 million barrels.

Helge Lund, President and CEO of Statoil said: “The Skrugard and Havis discoveries will be important for industrial development and will further boost activity in the supplier industry, providing new jobs and generating spin-off effects throughout the region.”

Havis lies approximately 7 kms southwest of the Skrugard discovery made in April last year.